CPA Simone Cimiluca-Radzins Launches ‘LinkedIn of Cannabis’

Portrait of Simone Cimiluca-Radzins
Cimiluca-Radzins

Proper entity structure is vital, she tells consulting clients.

By Liz Gold

Simone Cimiluca-Radzins has started the LinkedIn of cannabis.

MORE ON CANNABIZ: SURVEY: N.J. CPAs Support Recreational Cannabis | CPA Andrew Hunzicker Creates Course in Cannabiz Accounting | Cannabiz CPA: Dani Espinda Chooses Option Number Three
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A CPA who is licensed to practice in Oregon, Cimiluca-Radzins launched Kalogia last year with a simple goal: to help entrepreneurs, startups and rapidly growing companies reach financial freedom.
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CPA Andrew Hunzicker Creates Course in Cannabis Accounting

Portrait of Andrew Hunzicker
Hunzicker

"This industry is very underserved by accountants."

By Liz Gold
cannabizcpa.pro

Andrew Hunzicker has created a course to teach other CPAs, accountants and bookkeepers what they need to know to break into the cannabis industry.

MORE ON CANNABIZ: Jim Marty: Building a National CPA Firm for the Cannabis Industry | CPA Kim Walker: ‘We Can’t Be Afraid of Diving into Marijuana’ | A CPA’s Unexpected Journey into the Cannabis Industry | Billion-Dollar Questions: Cannabis FAQ for Accountants | The Wild World of Weed: Tax Season Never Ends
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The online six-week course, dubbed the Green Accounting Firm Startup Training Program, launched this month and participants will learn everything from the unique pain points facing cannabis CEOs to the basics of compliance and licensing. The idea is to help other accountants move into the industry.
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Jim Marty: Building a National CPA Firm for the Cannabis Industry

Plants growing out of ever taller stacks of coins in dirt

Numerous meetings with the IRS deductions on the cost of labor for rolling joints.

By Liz Gold
The Cannabis Boom

Marty

As a CPA in Colorado, Jim Marty saw a need for a large, sophisticated accounting firm to handle the booming cannabis industry. As a result, he designed his Longmont, Co.-based firm, Bridge West CPAs – focused solely on cannabis clients – to be acquired. And as it turned out, his plan and the timing were excellent.

MORE CANNABIZ: CPA Kim Walker: ‘We Can’t Be Afraid of Diving into Marijuana’ | Cannabiz CPA: Dani Espinda Chooses Option Number Three | The Two Crippling Compliance Issues for Cannabis Industry | Ready or Not: CPA Firms Find New Opportunity in Booming Cannabis Industry | IRS Section 280E & Marijuana: Tax Limbo or Hell? | The Wild World of Weed: Tax Season Never Ends

MORE JIM MARTY: Jim Marty: The Rise of a Cannabiz CPA [VIDEO]  |  Jim Marty: The Two Crippling Compliance Issues for Cannabis Industry [VIDEO]  |
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But let’s back up a bit: In 2009, Marty, who already had a successful traditional CPA firm with a staff of 10 and nearly 1,000 clients, decided to accept cannabusinesses into his clientele.
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CPA Kim Walker: ‘We Can’t Be Afraid of Diving into Marijuana’

Cannabis field at sunsetWhen clients demand your expertise.

By Liz Gold
cannabizcpa.pro

Walker

Kim Walker came into the cannabis industry by what she describes as happenstance.

MORE ON CANNABIZ: Cannabiz CPA: Dani Espinda Chooses Option Number Three | Jordan Cornelius: Guiding Cannabiz Clients through Minefields | Wayne Harding: From Tech Boom to Cannabis Boom | America’s New Breed of Cannabis CPAs [VIDEO] | The Rise of a Cannabiz CPA | What’s a Cannabiz Worth? Ask a CPA.
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In fact, she was merely following the needs of her clients.

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Cannabiz CPA: Dani Espinda Chooses Option Number Three

Espinda

Building out a cannabis practice with a spin-off entity called ACT Resources.

By Liz Gold
cannabizcpa.pro

Cannabis CPAs who are entering this booming industry usually need to figure out how to structure their practice: Do they focus exclusively on cannabusinesses? Just create a new niche industry practice and hope their clients won’t raise eyebrows? Or, create a separate entity within an already established firm?

GoProCPA.comMORE CANNABIZ for PRO MEMBERS: Jordan Cornelius: Guiding Cannabiz Clients through Minefields | A CPA’s Unexpected Journey into the Cannabis Industry | The Two Crippling Compliance Issues for Cannabis Industry | Wayne Harding: From Tech Boom to Cannabis Boom | Billion-Dollar Questions: Cannabis FAQ for Accountants | Ready or Not: CPA Firms Find New Opportunity in Booming Cannabis Industry | America’s New Breed of Cannabis CPAs [VIDEO] | Pioneering Cannabiz CPA Warns: Tread Softly | IRS Section 280E & Marijuana: Tax Limbo or Hell? | The Rise of a Cannabiz CPA | CPA Cannabiz BoomThe Wild World of Weed: Tax Season Never Ends | What’s a Cannabiz Worth? Ask a CPA.

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For Rhodes & Associates, the third option made the most sense.

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Jordan Cornelius: Guiding Cannabiz Clients through Minefields

    Cornelius: "I’ve seen operators get angry, cry, put their businesses up for sale."

Archaic laws and regulations plague booming new industry.

By Liz Gold

The two biggest challenges facing businesses following the green rush in Colorado today?

Taxes and banking.

GoProCPA.comMORE CANNABIZ for PRO MEMBERSA CPA’s Unexpected Journey into the Cannabis Industry  |  The Two Crippling Compliance Issues for Cannabis IndustryWayne Harding: From Tech Boom to Cannabis Boom   |  Billion-Dollar Questions: Cannabis FAQ for Accountants   |  Ready or Not: CPA Firms Find New Opportunity in Booming Cannabis Industry  |  America’s New Breed of Cannabis CPAs [VIDEO]  |  Pioneering Cannabiz CPA Warns: Tread Softly  |  IRS Section 280E & Marijuana: Tax Limbo or Hell?  |  The Rise of a Cannabiz CPA  |  CPA Cannabiz Boom  | The Wild World of Weed: Tax Season Never Ends |  What’s a Cannabiz Worth? Ask a CPA.

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When operators first get into the industry, everybody is looking at the top line and are not too concerned with taxes, says Jordan Cornelius, owner of Cornelius CPAs in Denver, Colorado.

“It’s a problem, taxes are a huge deal,” he says.

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